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The Philippine Insurers and Reinsurers Association (PIRA) has announced the election of Alliedbankers President and CEO Rebecca B. Dela Cruz as the new Chairperson of its Board of Trustees for 2018.

Ms. Dela Cruz served as Trustee and Corporate Secretary of PIRA for the past three years and Chairman of the PIRA Legal and Audit Committee. She has been part of the PIRA for the past five years.

A Certified Public Accountant, Ms. Dela Cruz, began her career in Finance as an Auditor of the Sycip Gorres and Velayo Company before she moved to the banking sector, and later on to the life and non-life insurance firms of the Lucio Tan Group of Companies. Ms Dela Cruz is also a Certified Management Accountant and a Fellow of the Life Office Management Institute.

As the new Chairperson of PIRA, she promises to lead the organization in navigating the challenging waters of increased capitalization, regulatory and financial reporting framework, corporate governance, coupled with industry disruptions and innovation, and growing threats of climate change and cyber crimes.

She recently led the members of PIRA in a seminar on the Data Privacy Act, a measure that stands to impact the industry, which thrives heavily on trust, reputation and delivery of service and commitment, being heavily involved on data and privileged information in managing the risks of clients.

"Our industry is going through major changes and challenges. The PIRA, therefore, needs to collaborate closely not only with our members, but with our regulators, our reinsurers , intermediary partners, and our clients to be able to adapt to changes and attain sustainable growth amidst all these challenges,” she said.

Other members of the PIRA Board of Trustees for this year are the following: Mr. Augusto P. Hidalgo, National Reinsurance Corporation of the Philippines, as Vice Chairman; Mr. Arturo B. Reyes of MAA General Assurance as Corporate Secretary; Ms. Joli Co Wu of QBE Seaboard Insurance Philippines, Inc. as Treasurer; and Mr. Michael F. Rellosa of Fortune General, Mr. David P. Mercado Jr. of Milestone Guaranty and Assurance Corp., Mr. Armand M. Pesigan of Pioneer Insurance, Mr. Joselito C. Bantayan of Bankers Assurance and Mr. Andrew Dee Co of Reliance Surety as Trustees.

PIRA is composed of about 65 non-life insurance companies all licensed by the Insurance Commission to provide insurance protection for cars. buildings, businesses, and other non-living assets.